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What are the major changes being proposed to the NPS?
The story so far: Started as the New Pension Scheme for government employees in 2004 under a new regulator called the Pension Fund Regulatory and Development Authority (PFRDA), the National Pension System (NPS) has been open for individuals from all walks of life to participate and build a retirement nest-egg. Given the dominance of informal employment in India, the Employees’ Provident Fund Organisation, which is contingent on a formal employer-employee relationship, only covers a fraction of the workforce. The NPS has been gradually growing in size and now manages ₹5.78 lakh crore of savings and 4.24 crore accounts in multiple savings schemes. Of these, over 3.02 crore accounts are part of the Atal Pension Yojana (APY), a government-backed scheme for workers in the unorganised sector that assures a fixed pension payout after retirement. The rest constitute voluntary savings from private sector employees and self-empl ....

Supratim Bandyopadhyay , Pension Fund Regulatory , National Pension System , Development Authority , Employee Provident Fund Organisation , New Pension Scheme , Atal Pension Yojana , National Pension , The Hindu Explains , Pension Fund Regulatory And Development Authority , Retirement Nest Egg , Informal Employment , Employees Provident Fund Organisation , Formal Employer Employee Relationship , India Workforce , Savings Schemes , Workers In The Unorganised Sector , Fixed Pension Payout , Voluntary Savings , Private Sector Employees , Self Employed Individuals , ஓய்வூதியம் நிதி ஒழுங்குமுறை , தேசிய ஓய்வூதியம் அமைப்பு , வளர்ச்சி அதிகாரம் , ஊழியர் வருங்கால நிதி ஆர்கநைஸேஶந் , புதியது ஓய்வூதியம் திட்டம் ,